BRECKENRIDGE — Developers broke ground Friday on a $70 million luxury condominium project at the base of Peak 9 with champagne and hors d’oeuvres.

Water House on Main Street will include 55 luxury one- to four-bedroom condos with amenities such as ski valet, underground parking, fitness facility, seven hot tubs, a heated outdoor pool and access to the Quicksilver chairlift.

“Water House is going to be the premiere example of how Breckenridge does luxury,” said Chuck Madison, senior partner with East-West Partners, the Beaver Creek-based developers. “The buildings represent the town’s and design team’s commitment to excellence, and the interiors may be the highest quality built in Breckenridge to date.”

The buildings were designed by Oz Architecture with interiors by Ranch House Design, both from Boulder. The project is being constructed by Evans Chaffee Construction, and financing is provided by First Bank.

More than 100 people attended the groundbreaking ceremony, including members of the development team and representatives from the Town of Breckenridge.